Market Update 12th August 2024

Coconut Raw Material Industry Newsletter – August 2024

International Pricing Trends

Last week, the global coconut oil market witnessed a price rally, reflecting the ongoing trend of elevated prices in the tropical oils market.

In Rotterdam, the prices of coconut oil fluctuated between $1,517.50 and $1,580.00 per metric ton (MT) CIF, contingent on the delivery position.

The market continues to face tight conditions due to restricted copra supply from heavy rains, prompting sellers to abstain from transactions.

Palm kernel oil experienced a notable surge, commanding prices between $1,440 and $1,450 per MT CIF.

The consistent price disparity between coconut oil and palm kernel oil, with the former maintaining a premium below $200, persisted for the fifth consecutive week.

Shipping News

There have been no changes in the overall news – with no improvements in sight.